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Variable Mortgages

Discover the versatility of variable-rate mortgages. Variable-rate mortgages offer borrowers flexibility in adapting to changing market conditions, with interest rates that may fluctuate over time. Explore our comprehensive resources and expert guidance to navigate the dynamic landscape of variable-rate mortgages and find the perfect fit for your financial goals.

How to make Variable Rate Mortgages Work for You

Establish an Emergency Fund

It's crucial to set aside money in an emergency fund to prepare for potential increases in your mortgage payments. This fund acts as a financial buffer, providing peace of mind that you can handle unexpected rate hikes without jeopardising your financial stability.

Monitor Interest Rates

It's essential to stay informed about economic conditions and interest rate trends. Regularly follow financial news, subscribe to updates from reputable sources, and keep an eye on key economic indicators such as inflation, employment rates, and central bank policies.

Consider Overpayments

Making overpayments on your variable rate mortgage is strategic, reducing the principal balance faster and lowering total interest over the loan's life. By paying extra, you decrease your outstanding balance and create a financial cushion against rate increases.

Your home may be repossessed if you do not keep up repayments on your mortgage

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Benefits of Variable Rate Mortgages

Discover the financial benefits of variable rate mortgages and take control of your homeownership journey.

Lower Initial Interest Rates

Variable-rate mortgages often start with lower initial interest rates compared to fixed-rate mortgages.

Flexibility

Variable-rate mortgages provide borrowers with flexibility, as the interest rate and monthly payments can adjust over time in response to changes in market conditions.

Protection Against Rate Increases

While variable-rate mortgages are subject to interest rate fluctuations, many come with caps or limits on how much the interest rate can increase at each adjustment period or over the life of the loan.

Option to Switch to Fixed-Rate Mortgage

Borrowers with variable-rate mortgages have the option to switch to a fixed-rate mortgage at any time, providing stability and predictability in monthly payments if desired.

Potential Drawbacks

Explore the factors to consider when choosing a variable rate mortgage and make informed decisions about your financial future.

Interest Rate Uncertainty

Variable-rate mortgages are subject to interest rate fluctuations, which can result in uncertainty and volatility in monthly mortgage payments.

Risk of Higher Payments

If interest rates increase significantly over the life of the loan, borrowers with variable-rate mortgages may face higher monthly mortgage payments compared to those with fixed-rate mortgages.

Higher Long-Term Interest Costs

While variable-rate mortgages may offer lower initial interest rates compared to fixed-rate mortgages, borrowers may end up paying more in interest over the life of the loan if interest rates rise significantly.

Budgeting Challenges

Variable-rate mortgages can make budgeting more challenging, as borrowers may need to account for potential fluctuations in their monthly mortgage payments.

The tools to make mortgages simple!

Affordability Calculator

Quickly estimate how much you can borrow. Just enter your loan details to see your borrowing capacity.

Repayment Calculator

Calculate your loan repayments easily. Enter your loan details to see your monthly payment amount and schedule.

Overpayment Calculator

Find out how overpayments can reduce your loan term and interest. Enter your loan details to see the impact of extra payments.

Stamp Duty Calculator

Calculate your stamp duty quickly. Enter your property details to see the stamp duty amount you'll need to pay.

This information is a guide only and should not be relied on as a recommendation or advice that any particular mortgage is suitable for you.

All mortgages are subject to the applicant(s) meeting the eligibility criteria of the specific lender.

You should make an appointment to receive mortgage advice which will based on your needs and circumstances'.

Your home may be repossessed if you do not keep up repayments on your mortgage

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See What Our Customers Say

We take pride in our customer service and are committed to providing you with the best possible experience. Here's what some of our customers have to say about us.

James Brady

James Brady

14 days ago

Aaron our broking manager was incredibly informative and helpful during our re-mortgage. Would highly recommend and will be using them in the future. Thanks again Aaron.

Isabella Jacobs

Isabella Jacobs

15 days ago

Really good service. Very friendly and professional.

Bella B.

Bella B.

20 days ago

Danielle was a HUGE help and kept our process moving along both smoothly and quickly. She always had time to talk us through everything we needed and super reliable communication throughout. Really goes the extra mile and made everything so easy for us. Thanks Danielle!

HMB Cox

HMB Cox

20 days ago

Danielle was recommended to us by EA and we didn’t hesitate to approach her. She is knowledgeable and thorough. Above all, though, she is encouraging and patient. During the many ups and downs of our sale/purchase and very soon to be completion, Danielle has been an incredible support. We trust her advice totally and are very confident that she has secured us the very best deal. We recommend her without reservation and are extremely grateful to her.

Hudsons Newtube

Hudsons Newtube

21 days ago

Great service from Aaron right there way through the process, very communicative and kept in touch at every step. We've been really impressed and would definitely recommend Aaron and Try Financial to any of our friends or contacts. Thanks Aaron!

Sarah Olsen

Sarah Olsen

22 days ago

Aaron was personally and highly recommended to us to assist with a mortgage for our house move and we could not be happier! Aaron is professional, highly efficient, communicative, very patient and most of all friendly and helpful! From our initial introduction, Aaron has answered all of our many questions and moved at a pace that has helped us line up all the ducks in good time for a chain with both selling and buying. Aaron really has gone above and beyond, including supporting us with conveyancer, building insurance, life insurance and income protection recommendations and options to consider. The conveyancers, in particular, have also blown us away at their efficiency and communication in getting things moving for us. I don't actually think there is anything Aaron can't do! He's quite simply the only mortgage advisor you'll ever need and a very nice chap too! :) Thank you Aaron and the Try Financial team for being absolutely fantastic! We won't hesitate to recommend you to anyone and everyone for your brilliant services. You've been an absolute pleasure from the start and made the whole process very easy indeed. Thank you!

James Daughtrey

James Daughtrey

24 days ago

Aaron Scott helped me with a relatively complex second charge mortgage application (I am self employed). He was incredibly helpful throughout, even though the lender made a habit of asking the same or similar questions repeatedly and took several weeks to reach a positive lending decision. Very highly recommended.

Sharon Harvey

Sharon Harvey

about 2 months ago

I can highly recommend Danielle. She has been in contact regularly throughout the process of our house move, keeping us up to date with any changes in rates and communicating with other parties involved to ensure everything was running smoothly. Ten stars!

Jil Garri

Jil Garri

about 2 months ago

Try Financial Ltd, I have used them time and time again. And will continue to do so! They have helped me with all my finances,mortgage, life insurance, house insurance. I will not use anyone else. You are looked are very well, and kept up to date with every detail. Thank you very much Danielle Robinson for all your support and help !!

Neil Porter

Neil Porter

about 2 months ago

Working with Danielle has been amazing, she makes the whole process stress free as she supported us every step of the way. Her communication is clear. Her knowledge and expertise in this area really helped us ensure we got the best deal and rate for us, all done in a friendly way with a smile, so I wanted to say thank you to Danielle. I will be working with you and Try again in the future. I’d recommend you to others. Thanks for everything.Neil

Nicky Bourke

Nicky Bourke

about 2 months ago

Excellent customer service when recently renewing my mortgage. Danielle Robinson was so friendly and made everything so easy to understand. She answered all my questions and made the whole process stress-free. Definitely recommend!

Beverley Chapman

Beverley Chapman

2 months ago

Aaron Scott has been brilliant with helping me with my mortgage, excellent advice and service. Would highly recommend him.

Tanya Kowlessar

Tanya Kowlessar

2 months ago

Aaron has been absolutely amazing! He helped us find the perfect product to complete our house renovations and was always available—whether by phone or email, even outside of regular hours. His dedication and responsiveness made the whole process smooth and stress-free. Truly a first-class service that I would highly recommend!

Adrian Kowlessar

Adrian Kowlessar

2 months ago

Very smooth process and excellent communication throughout, thanks so much.

Joanne Whipps

Joanne Whipps

2 months ago

Aaron provided an excellent service. Very proactive and helpful with all aspects of our remortgage. Communication was excellent with very speedy responses and helped with every aspect. We would have no hesitation in recommending Aaron in the future.

James Lacey

James Lacey

2 months ago

Very good advice offered thought out the process. Has helped me throughout the sale, has gone above and beyond. Very knowledgeable about all aspects involved. Very good communication throughout. Could not recommend more!

Barbara Giles

Barbara Giles

3 months ago

Aaron is amazing. He supported us with finding a finance product that suited our needs, keep in regular contact with updates on the progress, providing clear advice and guidance as well as going above and beyond to secure the deadlines we needed. A truly first class service. If your looking for a company that is exceptional and looks after their customers then look no further

Megan nelli

Megan nelli

3 months ago

Aaron is the absolute BEST - amazing professional service, brilliant communication, thorough information/guidance provided throughout and gained us a positive outcome. Cannot recommend enough! Thank you so much for all you have done for us.

Ashlea Cruickshank

Ashlea Cruickshank

3 months ago

Aaron got us exactly what we asked for and was brilliant through the whole process

Georgia Robertson

Georgia Robertson

3 months ago

For someone with no experience in mortgages, Try Financial, especially Aaron, has been incredibly helpful from start to finish. Such good customer service, support and organisation. Would definitely recommend to others getting their first, second or third! - Many thanks Aaron.

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